Cap. 395 Art. 30Tax period.

(1) Each registered person shall be placed by the Director in one of the following categories for the purposes of determining that person’s tax periods for the purposes of this Act:

(a) category A, with tax periods of three months ending on the last day of any month in any year as may be determined by the Director;

(b) category B, with tax periods of twelve months ending on the last day of any month in any year as may be determined by the Director.

(2) Every registered person who is not placed in category B pursuant to subarticle (3), shall be placed by the Director in category A.

(3) The Director may, whether on his own initiative or on written application by a registered person, place that person in euro and forty-eight cents (27,952.48) in respect of the sale of products or thirteen thousand and nine hundred and seventy-six euro and twenty-four cents (13,976.24) in respect of the provision of services or such other amounts as may, from time to time, be prescribed; or

(b) is not likely to exceed those amounts in the period of twelve months beginning on the first day of any tax period; or

(c) such person is a retailer.

(4) For the purposes of subarticle (3), the total value of a registered person’s business activities shall be deemed not to have exceeded any amount specified in or under that subarticle where the total value exceeds any such amount solely as a consequence of any cessation of, or any substantial and permanent reduction in the size or scale of any business activity carried on by the registered person.

(5) The Director may from time to time direct that a registered person change from category A to category B or, as the case may be, from category B to category A -

(a) on written application by the registered person; or

(b) following the notification by the registered person under article 26 of a change in status; or

(c) where the Director is otherwise satisfied, that the registered person has ceased to satisfy the conditions of subarticle (3):

Provided that a registered person may only make a written application to the Director to change the category that determines the registered person’s tax periods after the expiry of twelve months from the date on which the last written application was made.

(6) Where the Director directs that a registered person changes from one category to the other, such person shall be deemed to have been placed in the new category with effect from the day following the end of the tax period during which the direction was made by the Director.

(7) The first tax period for any registered person shall commence on such dates as may be determined by the Director in accordance with article 24(5).

(8) The last tax period for a person whose registration has been cancelled shall be the tax period during which the date of the said cancellation falls and shall end on the said date.

(9) The Director may by means of a notice served on a registered person in any particular case vary any tax period for that tax period of that person, without notice or demand, furnish to the Director a tax return, in such form as may be prescribed or as may be approved by the Director.

(2) Any registered person who ceases to be registered shall, not later than one month after so ceasing, furnish to the Director a final tax return, in such form as may be approved by the Director, in respect of that part of the last tax period during which that registered person was registered.

(3) The Director may require any person, whether a registered person or not, to furnish, whether on that person’s own behalf or as an agent or trustee, such further or other returns to the Director in the prescribed form as and when the Director requires for the purposes of this Act.